Cenovus Energy (Cenovus Energy) Accounts Receivable

: $2,029 Mil (As of Dec. 2023)

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Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Cenovus Energy's accounts receivables for the quarter that ended in Dec. 2023 was $2,029 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Cenovus Energy's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 17.70.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Cenovus Energy's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-7.75.

Cenovus Energy Accounts Receivable Historical Data

The historical data trend for Cenovus Energy's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Cenovus Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

160.98

897.03

1,990.63

2,180.35

2,028.92

Cenovus Energy Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Accounts Receivable																2,180.35	2,506.03	2,439.41	3,350.82	2,028.92

Cenovus Energy Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Cenovus Energy Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Cenovus Energy's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	2028.921	/	10462.135	*	91
=	17.70

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Cenovus Energy's accounts receivable are only considered to be worth 75% of book value:

Cenovus Energy's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1659.958	+	0.75 * 2028.921	+	0.5 * 3003.876	-	18785.778
-	386.852	-	10.435)	/	1871.87
=	-7.75

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Cenovus Energy Accounts Receivable Related Terms

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Cenovus Energy (Cenovus Energy) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Cenovus Energy Inc (NYSE:CVE) » Definitions » Accounts Receivable

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Traded in Other Exchanges

CXD:Germany CXD:Germany CVE.PR.B.PFD:Canada CVE.PR.A.PFD:Canada CVE.PR.C.PFD:Canada CVE.PR.G.PFD:Canada CVE.PR.E.PFD:Canada CVE:Canada

Address

225 - 6 Avenue SW, Suite 4100, Calgary, AB, CAN, T2P 1N2

Website

https://www.cenovus.com

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.